Genoses- led cartel was contracted by the Royal Crown of Spain to a high interest rate unsecured short term loan that described a variety of contracts thrown together, that included a transfer of payment and a currency exchange agreement. for example, a contract to deliver a shipment of gold would be delivered abroad and the crown would pay with the gold it was delivered and as per the contract the crown would not have to make a payment for months sometimes up to a year which kept the payment rolling over and further putting the crown in debt because the interest rate was typically 12 percent.
The 16th century was a time of unparalleled change, that began the modern era of science, a time of exploration, religious and political unrest, and
The 16th century was a time of unparalleled change, that began the modern era of science, a time of exploration, religious and political unrest, and